Due date for filing of return is generally 31st July which has been extended till 31st December 2021 this year in case your accounts are not required to be audited
I am a trader, what is the threshold limit of Income Tax for traders? Do I have to file my ITR return compulsorily?
There is no distinction as far as the threshold limit for payment of income tax is concerned whether you are a salaried person or a trader. The only distinction is based on age. For all the persons who are or have completed 60 years of their age during the year, the threshold limit is 3 lakhs whereas for those below this threshold it is 2.50 lakhs per annum. For those who have completed 80 years of age as on 31st March, the basic exemption limit is 5 lakhs.